How To Calculate The Amount Of Vat

Table of contents:

How To Calculate The Amount Of Vat
How To Calculate The Amount Of Vat

Video: How To Calculate The Amount Of Vat

Video: How To Calculate The Amount Of Vat
Video: How to calculate VAT - Simple Method VAT Calculation 2024, April
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Value added tax (VAT) is an indirect tax or form of levying value added to the state budget, which arises at each stage of the production process of a good or service. You can calculate VAT yourself or use one of the online services.

How to calculate the amount of vat
How to calculate the amount of vat

Instructions

Step 1

Check the VAT rate. As of February 2011, VAT is 18% (since January 2004).

If you need to allocate VAT, then divide your amount by 1 (unit) + VAT (18%) / 100. Thus, if the sum is 1000, then it must be divided by 1, 18. When 1000 is divided by 1, 18, we get 847, 457.

Subtract the original amount from the resulting number. Subtract from 847, 457 - 1000. We get -152, 542.

To make this number positive, multiply it by -1.

Next, round the number to the nearest kopeck. We have allocated VAT from 1000, it is equal to 152.54.

Step 2

If you want to charge VAT on an amount, then you need to multiply the amount (1000, for example) by 1, 1 . So, we get - 1180. This is the amount including value added tax.

If you want to get the amount of VAT, then you should multiply the amount by 0.18. Multiply 1000 by 0.18. We get 180.

Step 3

Use one of the online services if you don't want to calculate VAT manually. You will need to fill in the fields "Amount", "Percentage of VAT" and select an action - highlight or charge VAT.

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